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Lifetime Income Funds

Lifetime income funds, such as those that provide a guaranteed minimal withdrawal benefit,are generally annuity products that provide lifetime income based on assets an individual has accumulated.

They typically allow an investor to lock in a guaranteed income stream for life, including for the life of a surviving spouse, that is protected against market downturns yet has the potential to increase due to positive fund performance.

Investors always have access to the fund's market value and, upon death, beneficiaries have access to any remaining balance. While excess withdrawals may reduce or terminate the fund's guarantees, investors have flexibility versus more traditional annuity products;

Lifetime income funds may be used to bridge the gap between pension and Social Security income and ongoing expenses in retirement, or as a source of lifetime income for those without a pension. They are generally designed for individuals within 10-15 years of retirement or who have recently retired and need additional ongoing lifetime income. Older individuals who wish to provide for a surviving spouse may also be interested in the funds' spousal benefits.

The VT Retirement IncomeAdvantage Fund is a lifetime income fund available to certain 401 and 457 plan investors as an underlying fund of the VantageTrust. To learn more about the IncomeAdvantage Fund - including its availability in your plan and fees and restrictions - log into your account. Or, for general information, view the IncomeAdvantage Fund brochure.